Nexstar Media Group (NASDAQ:NXST) EVP Rachel Morgan Sells 185 Shares

Nexstar Media Group, Inc. (NASDAQ:NXST) EVP Rachel Morgan sold 185 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $187.32, for a total transaction of $34,654.20. Following the completion of the transaction, the executive vice president directly owned 565 shares of the company’s stock, valued at approximately $105,835.80. This represents a 24.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nexstar Media Group Trading Down 1.5%

Shares of NASDAQ NXST opened at $185.12 on Thursday. Nexstar Media Group, Inc. has a 1-year low of $164.00 and a 1-year high of $254.30. The company has a market cap of $5.65 billion, a PE ratio of 39.73, a P/E/G ratio of 0.51 and a beta of 0.97. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 5.53. The company has a 50-day moving average of $199.35 and a two-hundred day moving average of $207.96.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a $1.86 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 4.0%. Nexstar Media Group’s payout ratio is currently 159.66%.

Wall Street Analyst Weigh In

NXST has been the subject of a number of research analyst reports. Benchmark dropped their target price on shares of Nexstar Media Group from $300.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Barrington Research reissued an “outperform” rating and set a $290.00 price target on shares of Nexstar Media Group in a research note on Tuesday, April 28th. Zacks Research raised shares of Nexstar Media Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Finally, Wells Fargo & Company dropped their price target on shares of Nexstar Media Group from $290.00 to $253.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $259.67.

Key Headlines Impacting Nexstar Media Group

Here are the key news stories impacting Nexstar Media Group this week:

• Neutral Sentiment: Multiple Nexstar executives and insiders, including Brett Jenkins, Michael Biard, Lee Ann Gliha, Andrew Alford, Sean Compton, Dana Zimmer, Lindsey Knapp, Dan Lanzano, Rachel Morgan, Blake Russell, and Gary Weitman, sold shares at $187.32 as part of equity vesting tax obligations. SEC filing reference
• Positive Sentiment: Several analysts remain constructive on NXST, with recent upgrades and raised price targets helping offset some of the insider-sale concern. MarketBeat NXST page
• Negative Sentiment: The cluster of insider sales may create a short-term overhang, since investors often view repeated insider disposals as a cautious signal even when they are non-discretionary. SEC filing reference

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NXST. Torren Management LLC acquired a new position in Nexstar Media Group during the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in Nexstar Media Group during the third quarter valued at approximately $28,000. Root Financial Partners LLC acquired a new position in Nexstar Media Group during the third quarter valued at approximately $31,000. WPG Advisers LLC grew its holdings in Nexstar Media Group by 65.7% during the fourth quarter. WPG Advisers LLC now owns 179 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in Nexstar Media Group by 164.5% during the third quarter. Hantz Financial Services Inc. now owns 201 shares of the company’s stock valued at $40,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 95.30% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.